Any organisations or NGOs can be a targeted by kidnappers and criminals, especially when its employees reside or travel abroad.
Kidnap insurance protects expatriates, their families and volunteers around the world with an unrivalled combination of insurance cover and crisis management expertise. In the event of an incident (kidnapping, threats, extortion,) the NGO will incur varying degrees of expense to resolve the crisis. With Kidnap insurance, financial losses will be cancelled or limited.
Insurance Available to NGOs
More and more NGOs are realising the importance of covering these risks with special insurance and crisis management services.
In many countries, security conditions can deteriorate rapidly, putting businesses, their employees and their families at risk. Kidnapping for ransom is particularly prevalent in areas characterised by high disparity between rich and poor, active criminal and terrorist groups, understaffed or ineffective law enforcement and high levels of corruption. Although accurate global statistics are difficult to obtain, as many incidents go unreported, sources speak of tens of thousands of cases each year.
There are also many other forms of extortion, which vary enormously in nature and complexity, and typically target employees, products, processes, computer systems, intellectual property and other critical business assets. Companies that are victims of such acts rarely reveal them to the public, wishing to preserve their brand reputation.
There is much a NGO can do to limit the damage when such crises arise. Effective risk management begins with a thorough analysis of the threat and the degree of vulnerability of the NGO, and continues with the application of prevention and training measures.
The NGOs that manage incidents best are those that have comprehensive and proven response plans and procedures in place, and that use experienced professional consultants.
Then, this can make the difference between a quick and controlled recovery and, in the most extreme cases, very high costs or even an inability to recover from the crisis.
This infographic outlines the key points of Kidnap insurance. As a specialist broker, we can assess your risk and provide you with solutions from Kidnap & Ransom insurers.
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